| PNC branches into green offices
Green banking is more than just greenbacks, according to PNC Financial Services Group Inc. The Pittsburgh-based financial institution said Tuesday it received LEED (Leadership in Energy and Environmental Design) certification for 40 branches in six states. PNC (NYSE:PNC) also said it trademarked the term "Green Branch." More than 50 percent of each Green Branch is built from recycled materials, according to a news release, and as much construction waste as possible is recycled or salvaged. They also have high-efficiency HVAC and water systems, make maximum use of natural light, and have amenities like Internet cafes, coffee bars and plasma televisions. LEED certifications are given by the U.S. Green Building Council. .
Equifax Named Top 25 Financial Technology Leader in 2007 FinTech 100
ATLANTA, Nov. 8 / -- Equifax Inc. (NYSE:EFX) today was named as a technology leader in the 2007 FinTech 100 list by American Banker and Financial Insights. The company ranked 24th in this prestigious annual listing of technology companies that derive more than one-third of their revenue from the financial services industry. "As a global information solutions company, Equifax continually invests in technology and innovation, which play an integral role in how we support the needs of our customers," said Rajib Roy, president, Enabling Technologies, Equifax. "Our ranking on the FinTech 100 demonstrates how these investments are positioning us to meet the evolving needs of our customers -- now and in the future." The FinTech 100 ranking is compiled by American Banker, SourceMedia's flagship publication for banking and financial services professionals, and Financial Insights, a leading independent research and advisory firm.
Merrill Lynch comes to Russia
MOSCOW. (Anatoly Gorev for RIA Novosti) - Merrill Lynch, a major U.S. company in the financial services industry, recently announced that it has acquired about 10% of the Trust Banking Group. Analysts have called this deal a landmark for two reasons. First, new key player has emerged in the Russian market and, second, Merrill Lynch has come to Russia after sustaining heavy losses in the mortgage crisis in the United States and is probably looking for a quiet harbor. Not much is known about the deal. Two or three months ago, a Trust shareholder decided to quit and asked Merrill Lynch to sell his stock. It transpired that Merrill Lynch decided to buy the stock itself. The sum of the deal has not been disclosed but analysts believe that it is unlikely to be huge: in the third quarter the Trust assets went down and the bank moved from the 69th to 101st place in the rankings of the Interfax Center for Economic Analysis (Interfax-CEA).
I(n)Trospection – the new business model?
Globally, banking as a segment has moved into the mainstream. As financial institutions and best practices gain importance in the region, there is a visible shift towards specialisation which has seen banks in the region transform operations in favour of commercial banking or opt to specialise on the fast growing, yet niche Islamic Finance business. Investments in IT and infrastructure are especially contributing to business growth, enabling customers to enjoying the benefit of improved services and faster delivery of banking products. The Islamic Finance market in particular has seen significant growth over the past few years. Having infused a culture of fresh thinking, its growth in the region has also made it necessary for banks offering Sharia-compliance products and services to constantly seek innovation.
Banks to set up shop at Mexican Consulate
The Consulate General of Mexico signed an agreement Monday with three U.S. banks that could make Mexican nationals more comfortable with the banking industry. Chase, Citibank and Laredo National Bank will take turns each day manning a desk in the Mexican Consulate on Navarro Street. They will answer questions for Mexican nationals about financial services and products with the hope of eventually turning them into customers at area branches. "In other areas of the U.S. — New York, Los Angeles, Chicago — we have had a presence in consulates for years," said Iñigo Arzac, assistant vice president and relationship manager for Citibank San Antonio. "Now we can reach out to the Mexican community, especially with the growth of San Antonio." The banks will not offer any products inside the consulate.
Bank of America Announces Fourth Quarter and Full-Year 2007 Earnings Conference Call
CHARLOTTE, N.C., Nov. 21 /PRNewswire/ -- Bank of America Corporation today announced it will present fourth quarter and full-year 2007 financial results on Tuesday, January 22, 2008 at 9:30 a.m. EST. The presentation, live webcast and other earnings-related information will be available through the Bank of America Investor Relations Web site at http://investor.bankofamerica.com/ . Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 23 million active users.
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